Using the Following Information - During 2016 Sales on Account Were $145000 and Collections

question 197

Multiple Choice

Using the following information: $$\begin{array} { l r } &\underline { 12 / 31 / 15 } \\\text { Accounts receivable } & \$ 525,000 \\\text { Allowance } &\underline { ( 40,000 ) } \\\text { Cash realizable value } & \underline { \$ 485,000 }\\\end{array}$$

- During 2016 sales on account were $145000 and collections on account were $100000. Also during 2016 the company wrote off $5000 in uncollectible accounts. An analysis of outstanding receivable accounts at year end indicated that uncollectible accounts should be estimated at $45000. Bad debt expense for 2016 is

• A) $35000.
• B) $5000.
• C) $10000
• D) $45000.

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Definitions:

Recurring Memories

Repeatedly experiencing remembrances of past events, often intrusive and sometimes associated with trauma.

Compulsive Need

An overwhelming and uncontrollable urge to perform particular actions or behaviors, often driven by anxiety or psychological stress.

Increased Arousal

A heightened state of sensory sensitivity and physiological readiness for action, often associated with anxiety or stress.

Derealization

An alteration in perception leading to the feeling that the external world is strange, unreal, or distant.